Sorrento Therapeutics Inc (SRNE)

[djmurdock]

Huge lawsuit news coming...Could be billions ruled in Sorrentos favor.

Update On March 6, 2020 after the stock market closed Sorrento disclosed that the company had filed a legal action against Patrick Soon-Shiong in Los Angeles Superior Court, asserting claims for fraudulent inducement and common law fraud, arising out of Dr. Soon-Shiong’s purchase of the drug CynviloqTM from the Company in May 2015. The action alleges that, among other things, Dr. Soon-Shiong acquired the drug Cynviloq for the purpose of halting its progression to the market. In connection with filing this civil action in the Los Angeles Superior Court, where the Company will have the right to a jury trial against Dr. Soon-Shiong, the Company has dismissed Dr. Soon-Shiong from the related, ongoing arbitration against NantPharma, LLC.

I discussed this with my attorney friend he feels this is excellent news and good advice from Sorrento's legal team he suggested Dr Patrick Soon-Shiong could very well pay much much more possibly 5 times the original $1 billion arbitration suit, reason being is a jury could take severe action against Soon-Shiong for keeping a cancer drug off the market, also the legal action is directly against Soon-Shiong so he can't file bankruptcy given the fact he is worth $6 to $12 Billion. Sorrento's hired Hueston Hennigan LLP Harvard law school Steven Feldman who is recognized by multiple publications as one of the nation’s top litigators under 40, Steven Feldman uses his deep experience in the courtroom to help clients develop creative and aggressive case strategies with the goal of obtaining their desired result—whether it be a trial victory or achieving a favorable settlement. He is a trusted litigator for Fortune 500 companies, well-known venture-backed companies and individuals, such as Amgen and T-Mobile.

https://seekingalpha.com/instablog/51307855-tradeinvestments2019/5419913-full-story-why-sorrento-therapeutics-offers-tremendous-upside-cbs-news-t-v-special-report-on